NSP vs SPY: Correlation
Measured on weekly returns over the past three years, Insperity, Inc. (NSP) and SPDR S&P 500 ETF Trust (SPY) carry a correlation of 0.26, a weak link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NSP and SPY?
Across a 3-year window, the weekly returns of NSP and SPY correlate at 0.26, weak. The past 12 months show a weaker link (0.13) than the 3-year average (0.26). Stretching to 5 years gives 0.31, with an annualized covariance of 202.5 %².
Within NSP's tracked universe of 13 assets, SPY comes in at #8 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months SPY outperformed by 19.3 percentage points (+1.3% for NSP against +20.6% for SPY). One caveat on sizing: NSP is 3.7 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
How is this computed?
Pearson correlation on weekly returns: ρ(A,B) = cov(rA, rB) / (σA · σB), over windows of 52, 156 and 260 weeks. Covariance is annualized (×52) and expressed in %². Full definitions on the methodology page.
NSP vs SPY: side by side
| NSP (Insperity, Inc.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +1.3% | +20.6% |
| 5-year return | -44.3% | +82.4% |
| Volatility (ann.) | 54.1% | 14.5% |
| Beta vs S&P 500 | 0.97 | 1.00 |
| Max drawdown (3Y) | -81.5% | -18.8% |
| Market cap | $2.0B | – |
| P/E (trailing) | – | – |
| Dividend yield | 4.62% | 1.01% |
| Expense ratio | – | 0.09% |
| Assets under management | – | $795.3B |
| Sector / category | US Listed | ETF · US Large Cap |
SPY is a Large Blend fund from State Street Investment Management: $795.3B under management, 504 holdings, a 0.09% expense ratio, a 1.01% trailing dividend yield.
Year-by-year returns
| Year | NSP | SPY |
|---|---|---|
| 2022 | -1.9% | -18.2% |
| 2023 | +5.2% | +26.2% |
| 2024 | -32.1% | +24.9% |
| 2025 | -47.8% | +17.7% |
| 2026 | +40.1% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NSP and SPY good diversifiers for each other?
A fair diversifier. At 0.26, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between NSP and SPY?
As of 2026-08-27, the correlation of weekly returns between NSP and SPY is 0.26 over 3 years, 0.13 over 1 year and 0.31 over 5 years.
Is SPY a good diversifier for NSP?
A fair diversifier. At 0.26, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.26 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
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Related comparisons
Hubs: NSP correlations · SPY correlations
